MEDITHERA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MEDITHERA
Largest movements
- Receivables within one year -€51,735
down €51,735 (-28.4%), from €182,081 to €130,346
of which Trade receivables: -€43,672
- Cash +€25,749
up €25,749 (+949.7%), from €2,711 to €28,460
mainly Receivables within one year (+€51,735) and Depreciation (+€37,435)
- Tangible fixed assets -€25,281
down €25,281 (-7.2%), from €351,622 to €326,341
of which Plant, machinery and equipment: -€45,450
- Stocks and contracts +€11,187
up €11,187 (+11.6%), from €96,261 to €107,448
- Debts after one year -€33,330
down €33,330 (-11.7%), from €285,408 to €252,079
- Trade debts -€31,410
down €31,410 (-62.0%), from €50,638 to €19,228
- Reserves +€11,471
up €11,471 (+4.3%), from €264,664 to €276,135
of which Distributable reserves: +€11,471
- Gross operating margin +€73,701
up €73,701 (+24.4%), from €301,454 to €375,156
- Staff costs -€16,674
down €16,674 (-5.5%), from €305,509 to €288,835
- Depreciation -€13,604
down €13,604 (-26.7%), from €51,039 to €37,435
- Other operating charges +€4,488
up €4,488 (+62.0%), from €7,239 to €11,727
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,021,471 | €972,011 | -€49,459 | -4.8% |
| Fixed assets | 21/28 | €727,227 | €701,946 | -€25,281 | -3.5% |
| Tangible fixed assets | 22/27 | €351,622 | €326,341 | -€25,281 | -7.2% |
| Land and buildings | 22 | €293,345 | €310,296 | +€16,951 | +5.8% |
| Plant, machinery and equipment | 23 | €47,185 | €1,735 | -€45,450 | -96.3% |
| Furniture and vehicles | 24 | €11,091 | €14,129 | +€3,038 | +27.4% |
| Assets under construction and advance payments | 27 | - | €180 | +€180 | |
| Financial fixed assets | 28 | €375,605 | €375,605 | = | 0.0% |
| Current assets | 29/58 | €294,244 | €270,065 | -€24,178 | -8.2% |
| Stocks and contracts in progress | 3 | €96,261 | €107,448 | +€11,187 | +11.6% |
| Stocks | 30/36 | €96,261 | €107,448 | +€11,187 | +11.6% |
| Amounts receivable within one year | 40/41 | €182,081 | €130,346 | -€51,735 | -28.4% |
| Trade receivables | 40 | €159,423 | €115,751 | -€43,672 | -27.4% |
| Other amounts receivable | 41 | €22,659 | €14,595 | -€8,063 | -35.6% |
| Cash at bank and in hand | 54/58 | €2,711 | €28,460 | +€25,749 | +949.7% |
| Deferred charges and accrued income | 490/1 | €13,190 | €3,811 | -€9,379 | -71.1% |
| Total equity and liabilities | 10/49 | €1,021,471 | €972,011 | -€49,459 | -4.8% |
| Equity | 10/15 | €387,573 | €399,044 | +€11,471 | +3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €264,664 | €276,135 | +€11,471 | +4.3% |
| Non-distributable reserves | 130/1 | €13,733 | €13,733 | = | 0.0% |
| Legal reserve | 130 | €13,733 | €13,733 | = | 0.0% |
| Distributable reserves | 133 | €250,931 | €262,402 | +€11,471 | +4.6% |
| Profit (loss) carried forward | 14 | €60,909 | €60,909 | = | 0.0% |
| Amounts payable | 17/49 | €633,897 | €572,968 | -€60,930 | -9.6% |
| Amounts payable after more than one year | 17 | €285,408 | €252,079 | -€33,330 | -11.7% |
| Financial debts | 170/4 | €285,408 | €252,079 | -€33,330 | -11.7% |
| Amounts payable within one year | 42/48 | €348,489 | €320,889 | -€27,600 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €32,776 | €33,330 | +€554 | +1.7% |
| Trade debts | 44 | €50,638 | €19,228 | -€31,410 | -62.0% |
| Suppliers | 440/4 | €50,638 | €19,228 | -€31,410 | -62.0% |
| Taxes, remuneration and social security | 45 | €34,189 | €36,214 | +€2,025 | +5.9% |
| Taxes | 450/3 | €9,420 | €10,707 | +€1,287 | +13.7% |
| Remuneration and social security | 454/9 | €24,769 | €25,507 | +€738 | +3.0% |
| Other amounts payable | 47/48 | €230,886 | €232,117 | +€1,231 | +0.5% |
| Non-recurring operating income | 76A | - | €4,826 | +€4,826 | |
| Remuneration, social security and pensions | 62 | €305,509 | €288,835 | -€16,674 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,039 | €37,435 | -€13,604 | -26.7% |
| Other operating charges | 640/8 | €7,239 | €11,727 | +€4,488 | +62.0% |
| Non-recurring operating charges | 66A | €2,378 | €8,545 | +€6,167 | +259.3% |
| Gross operating margin | 9900 | €301,454 | €375,156 | +€73,701 | +24.4% |
| Operating profit (loss) | 9901 | -€64,710 | €28,614 | +€93,325 | |
| Financial income | 75/76B | €777 | €862 | +€85 | +11.0% |
| Recurring financial income | 75 | €777 | €862 | +€85 | +11.0% |
| Financial charges | 65/66B | €18,378 | €16,615 | -€1,763 | -9.6% |
| Recurring financial charges | 65 | €18,378 | €16,615 | -€1,763 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€82,311 | €12,862 | +€95,173 | |
| Income taxes | 67/77 | - | €1,391 | +€1,391 | |
| Profit (loss) for the period | 9904 | -€82,311 | €11,471 | +€93,782 | |
| Profit (loss) for the period to be appropriated | 9905 | -€82,311 | €11,471 | +€93,782 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.